Eric Bronnenkant, CPA, CFP®

The IRS has released final regulations on Required Minimum Distributions (RMDs) for inherited IRAs. Key points: 🔑 10-year RMD Rule clarified 🔑 Annual distributions are required in most cases 🔑 Special rules for "eligible beneficiaries" 🔑 Effective from 2025, with transitional relief through 2024 🔑 Remember: Skipping an RMD can result in a penalty of up to 25% Confused about how this affects your inherited IRA? You're not alone; these rules are complex. If you have any questions about how this may affect your financial strategy, let's talk. #InheritedIRA #TaxPlanning #RetirementPlanning #IRSUpdate Source: https://lnkd.in/gdt9FCsb

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Tax-loss harvesting isn't just a year-end checkbox—it's a daily opportunity to optimize our clients' portfolios. Check out my video to learn how Vise's TLH algorithm works.

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Reflecting on the Boston Tea Party over 251 years ago, we’re reminded of the importance of fair representation. At Whitwell Advisors, we prioritize your financial goals with strategic tax planning and private investing. Let’s ensure your wealth strategy meets your needs. #InvestWithPurpose Connect with us to discuss how we can align your investments with your values. #WealthManagement #FinancialPlanning #TaxAdvisory #PrivateInvestments #ClientFocus #whitwelladvisors #whitwell

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Attention all RIAs! In the spirit of transparency, it's important to disclose all conflicts, especially those that benefit your firm or executives. Fully and fairly disclosing conflicts of interest are at the heart of an investment adviser’s fiduciary duty, The SEC recently highlighted a case that serves as a good example of this. Check it out here: https://lnkd.in/ei9x2hvg

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Although investors may be concerned about higher taxes in the future, they should avoid making rash decisions on mere tax proposals. At the same time, they should be aware how these proposed changes could impact them and influence planning opportunities. Even if none of these proposals pass, we could see higher taxes if the Tax Cut and Jobs Act is allowed to sunset at the end of next year. https://lnkd.in/e7HBhn68

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As you begin planning for 2025, you’ll want to be aware of #IRS adjusted limits that will impact your retirement savings. If you have questions about your retirement planning or solutions to help you achieve your goals, we are here to help.

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In our new election outlook, we consider the potential policy implications of rising federal deficits, further defense spending increases, expiring tax provisions, the municipal bond tax exemption, and possible changes to Medicaid and Affordable Care Act (ACA) subsidies, infrastructure spending, and tariff and immigration policies. Learn more: https://bit.ly/4dM5Aj7

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Having a concentrated stock position from the company you work for is good news. It means that your efforts and your company’s success have brought you to the point where you now have a large position in your company’s stock. Yet, several issues arise with a concentrated stock position. There is a strong tendency to hold on to what you already have. It can come from the fear of missing out on future gains, having a positive outlook for your company’s future or tax considerations. And you can resist the idea of diversifying simply by the fact that you own it. In behavioral economics, the endowment effect is the tendency people have to retain an asset they own than to acquire that same asset when they do not own it. Having most of your eggs in one basket means you could see significant net worth impact if the stock declines. Techniques to mitigate concentrated stock position risks include the following. • Reduce/eliminate exposure to the sector your company is in across rest of your portfolio. • Structured sales over multiple tax years. Sell a fixed dollar or percentage of position across multiple years. • Charitable giving. Using some of your concentrated position to help charities and provide a charitable deduction opportunity. • Options strategies. Using options to mitigate the exposure you have to a single stock. Talk with your financial advisor about ways to manage concentrated stock positions as part of your financial plan. This article from Fidelity has some additional ideas. https://lnkd.in/guzBppnu

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